trust

Is data gold, or your kryptonite?

If you are an insurer, ask yourself this question: Are your customers sharing data with you? (If you aren’t you probably are a customer of insurance, so just ask it the other way around.) Most likely, the answer is “not if they don’t have to”. Why is that the case? Is it a privacy concern? Don’t […]

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Doctors, Insurers and Trust

  Via InsuranceThoughtLeadership.com, I ran across an interesting article on “Why Doctors Don’t Trust Insurers”. According to a (U.S.) survey by ReviveHealth Payor Trust Index, no insurer scored higher than 60 points out of 100 [1], with the average being 58. What are the reasons for this low trust? According to the study, the main […]

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Do You Trust Your Insurance Company?

Insurance might not be the oldest profession. But, the idea does go back to ancient times. Some say that the concept of sharing risk began 5000 years ago when Chinese merchants started mixing their cargoes together to distribute each merchant’s goods across multiple ships. Of course, the downside was, if a ship went down, it […]

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Sharing personal risk

By now, probably all readers of this blog will have heard of Friendsurance, the German online broker that puts a group of friends together to share in insurance deductibles etc to make the premium cheaper overall for the group. (I blogged about them two years ago.) They are a nice example of the sharing economy […]

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Random Thoughts: Some More Watching (BRICS)

Last week, I discussed some data details for the IBV customer retention study, “Capturing hearts, minds and market share“, looking at the countries with an English cultural background. To compare, today the same data for another group of countries with shared traits, type 2, i.e. high growth and low maturity, namely the BRICS countries.[1] Unfortunately, […]

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Random Thoughts: Watching the English (and Americans, and Australians…)

Today we will take another look at the most recent IBM Institute for Business Value (IBV) study on insurance customer retention, “Capturing hearts, minds and market share“. I’ll be focusing on some country level information, specifically the Anglo-Saxon countries in the study, i.e. the U.K., the U.S., Canada and Australia. [1]   I’ve pointed out […]

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Claims and the moment-of-truth experience

I have spent a large part of my working career in the insurance industry as a captive agent for a large multi-national insurance carrier. The experience that I have had within the industry has eased my transition as a consultant to help bring clients’ perspective and understanding from a sales, process, and operations flow. I […]

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Convenience versus privacy

Publication of our new insurance study about Digital Reinvention is right around the corner – time for a second sneak peek at some of the data. Last time I talked about the changes in trust, today we will have a look at the privacy / convenience trade-off. Conventional wisdom says that as the world is […]

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